FCA's Percival challenges advisers over FOS rulings

Carmen Reichman
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Financial Conduct Authority (FCA) technical specialist Rory Percival has re-issued a call to financial advisers to offer up evidence of discrepancies between how the regulator and ombudsman view liability - and said he had even taken to looking at adjudications himself to locate some.

"I believe the perceived difference between the FCA view and the ombudsman (Financial Ombudsman Service) view is a myth. The main reason I say that is because I've got no evidence so far that there is a difference." Advisers and regulatory lawyers have claimed there are inconsistencies between how the FCA and FOS handle dispute cases. But, speaking at the Retirement Planner Forum and Awards in London on 17 June, Percival said the regulator had issued a call for evidence last year and had been asking delegates at events - with no response. "If you've got a reference number of a case...

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